Say goodbye to disruptions and delays caused by incorrect payments! This new functionality empowers our clients to verify payee names against the sort code and account number when setting up payments through the Cashroom Portal.
The primary objective of CoP is to prevent individuals from mistakenly transferring payments to incorrect accounts and to effectively combat bank transfer fraud. By validating the payee’s bank details at the start of the payment process, we provide our clients with the confidence of ensuring payments are directed to the correct recipient.
Confirmation of Payee is visible from pre-approval to bank authorisation and all stages in between within our Cashroom Portal.
Any errors due to incorrect details or transposing will be detected immediately with our Confirmation of Payee checks
Checking payee bank details before payments are set up on the bank means minimal delays which can often occur when the payment is ready to be sent
Our portal provides a secure, streamlined workflow for all of your payments in one place
Peace of mind
Cashroom clients have the confidence in knowing that payments are being sent to the intended receipient at the correct time
Interested in Confirmation of Payee but not a Cashroom Client?
Please get in touch today for more information on how we can help your business – email@example.com